Construction industry expected to continuously grow

Spending on construction has grown over the past several years and looks poised to continue inching upward.

Spending increased on a monthly basis in 8 of the 16 nonresidential subcategories, led by a 1.1% growth in manufacturing projects. Private nonresidential spending ticked up 0.5%, while public nonresidential construction spending slipped 0.4% in July.

If you consider the 12-month change, however, manufacturing construction has actually increase 70.8% in the last year! With public infrastructure and lodging also seeing significant growth.

The spending is expected to continue to growth steadily over the next year, as companies across these different segments each contend with labor shortages.

We need far more construction workers, not just to build new factories, but to continue to increase the housing supply. Construction work is essential and a massive part of the economy. There have never been better opportunities to enter and rise in this growing field!